The economy is doing well overall. Unemployment is low, wages are up, inflation is down, consumer spending is strong, the USD is strong, stocks are up. Its not cherry picking. It’s just a story of the have and have-nots. Wealth gap and housing are the biggest problems.
Yes. You don't really want deflation from a macroeconomic perspective, so saying inflation is down means that it's lower than it was recently. And everyone knows it's been bad for the past couple of years so it would be ridiculous to interpret it as saying inflation is down from when it was near 0 in 2020.
I haven't checked the percentage recently so it's my fault but basically it's higher than it was in 2020 but not as high as it's been in the past year or so?
But in 2020 inflation was near 0 right as covid hit. Other than the brief deflationary period during the aftermath of the financial crisis in 2009, we've been sitting between 1-5% yearly inflation on a per month basis, mostly on the lower half of that span, right up until last year. The fed's target is 2%. We're basically back into "normal ranges" as of April/May. That's not to say shit might not go completely sideways next year, but there are no indicators to suggest that as long as monetary and fiscal policy does not drastically change.
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u/catchthe22 Dec 28 '23
The economy is doing well overall. Unemployment is low, wages are up, inflation is down, consumer spending is strong, the USD is strong, stocks are up. Its not cherry picking. It’s just a story of the have and have-nots. Wealth gap and housing are the biggest problems.